Tesla's (TSLA) "Sell" Rating Reaffirmed at Guggenheim

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "sell" rating reissued by analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They currently have a $175.00 price target on the electric vehicle producer's stock. Guggenheim's price objective would indicate a potential downside of 41.29% from the stock's previous close.

Several other analysts have also weighed in on TSLA. Royal Bank Of Canada decreased their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Benchmark reissued a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler reissued an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, The Goldman Sachs Group lifted their price objective on Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $301.60.

Tesla Stock Up 1.4%

Shares of TSLA traded up $4.13 during midday trading on Tuesday, reaching $298.07. 16,755,000 shares of the stock were exchanged, compared to its average volume of 100,728,927. Tesla has a 12-month low of $182.00 and a 12-month high of $488.54. The firm has a 50 day simple moving average of $321.10 and a 200-day simple moving average of $323.46. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market cap of $960.08 billion, a price-to-earnings ratio of 163.32, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the firm earned $0.45 earnings per share. Research analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 829,509 shares of company stock worth $277,648,925. Corporate insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC grew its holdings in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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